According to The Block, people familiar with the matter revealed that Fidelity is expected to submit an application for a spot Bitcoin ETF soon, possibly as early as Tuesday.
It is reported that after BlackRock took the lead in submitting an application on June 15, other asset management companies also submitted such applications, including Invesco, WisdomTree and Bitwise.
It is reported that Fidelity has tens of millions of retail brokerage clients and manages more than $11 trillion in assets. The company has also been involved in the cryptocurrency business for a long time. Since 2018, it has been operating related institutional custody and trading services in the market.
In asset management, the company has been offering fund products to European clients through Fidelity International since February 2022.